Zara’s owner Inditex set to reopen stores in Ukraine after two-year hiatus
The Spanish retail conglomerate Inditex known for brands like Zara, Bershka, and Massimo Dutti, is gearing up to reopen its doors in Ukraine after a two-year closure triggered by the onset of the Russian invasion, Financial Times reported on March 1.
Inditex outlined plans to kickstart operations in early April, marking a significant return to the Ukrainian market.
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The retailer communicated to Ukrainian landlords its phased reopening strategy, starting with 20 stores, including three Zara locations in Kyiv's shopping centers. Inditex's broader plan includes revitalizing 50 of its over 80 previously operational outlets across the country.
Safety and market adaptability are at the forefront of Inditex's strategy, ensuring the well-being of employees and patrons as they navigate the market's current landscape. In preparation for the reopening, some Ukrainian staff members have been dispatched to Poland for training, underscoring the company's commitment to a seamless transition back to business.
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Despite the upheaval caused by the invasion on Feb. 24, 2022, which led to the closure of 84 Ukrainian stores, Inditex has maintained its commitment to its local workforce, continuing to pay wages and taxes and uphold lease agreements.
The company's exit from the Russian market was notable, with Inditex leaving open the possibility of a return, contingent on future circumstances. The Russian market, a significant revenue stream second only to its Spanish operations, remains a point of strategic consideration for the company.
Amidst evolving market dynamics, reports have surfaced about the potential rebranding and return of Inditex's stores to Russia. Media outlets suggest that Bershka, Zara, and Pull&Bear may re-enter the Russian market under new names, with recruitment efforts reportedly underway.
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